Aba Heavy Motor Parts and Tyre Sellers Association (AHMPATSA) in Abia State has signed a Memorandum of Understanding (MoU) for the building of an ultra-modern market at Alaoji, also in Aba.

The AHMPATSA ultra-modern market, which will comprise 1, 200 shops, would be constructed at the cost of N1.5 billion within nine months. The complex will also have all necessary modern facilities, including internal access roads, an administrative block, banks, security, conveniences and restaurants, amongst others. The project would be executed by Logistics De-Luke Ltd. Already Abia State government has pledged to assist in the realisation of the project.

At the MoU signing ceremony Monday at AHMPATSA’s Azikiwe Secretariat in the commercial city of Aba, the Union’s Board of Trustees Chairman, Chief Philip Ezekwem, told the gathering that their dream, conceived since 1994, was about becoming a reality

“The journey we started in 1994 is witnessing the contract signing ceremony today and work starts immediately. We will strive to fulfill our own side of the bargain,” Ezekwem said before signing the MoU.

He noted that the new market would decongest Aba city when it becomes operational as all the clusters of motor spare parts dealers and tyre sellers would relocate to the area.

Chief Executive Officer of Logistics De-Luke, Chief Raymond Aliga, who signed for his firm, assured that the project would be completed within the nine months stipulated period to enable the AHMPATSA members who have invested in the market project to reap the expected benefits therein.

He noted that the proposed market was centrally located and would be easily accessed by businessmen from neighbouring states of Rivers, Akwa Ibom, Cross River and other South Eastern States.

Aliga said that the project would influence home-coming of Igbo businessmen in cities outside Igbo land and urged them to work harmoniously with the banker of the project, Unity Bank, to ensure that the project was realised on schedule.

Senior Special Assistant to the governor on Trade and Investment, Jude Udeachara, described AHMPATSA as visionary and proactive, saying that their vision was in line with the present administration’s drive to make Aba the economic hub of Nigeria

He said that Governor Okezie Ikpeazu has promised to do the one kilometre road leading into the new market and also to donate a giant generator that would provide power supply to the market

“It is a great thing for Abia that AHMPATSA has decided to develop a market. The association has set a pace for others to follow,” Udeachara said.

Representative of Unity Bank at the ceremony, Donatus Ubechukwu, described the association as dynamic, focused and coordinated and expressed hope that execution of the project would proceed smoothly.

Members of AHMPATSA who spoke with News Express expressed happiness that the project was about taking off. They said they were looking forward to becoming shop owners as some said they were paying about N300,000 annually as rent in their present locations.